OppenheimerFunds Inc. Has $343,000 Holdings in Martin Marietta Materials, Inc. (MLM)

OppenheimerFunds Inc. decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 42.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,655 shares of the construction company’s stock after selling 1,229 shares during the quarter. OppenheimerFunds Inc.’s holdings in Martin Marietta Materials were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. raised its holdings in Martin Marietta Materials by 1.3% during the 1st quarter. BlackRock Inc. now owns 3,910,444 shares of the construction company’s stock valued at $810,635,000 after acquiring an additional 48,775 shares during the period. Baillie Gifford & Co. raised its holdings in Martin Marietta Materials by 0.5% during the 1st quarter. Baillie Gifford & Co. now owns 2,214,958 shares of the construction company’s stock valued at $459,161,000 after acquiring an additional 11,996 shares during the period. Aristotle Capital Management LLC grew its position in shares of Martin Marietta Materials by 4.2% during the 4th quarter. Aristotle Capital Management LLC now owns 1,688,885 shares of the construction company’s stock valued at $373,312,000 after purchasing an additional 68,461 shares in the last quarter. Caledonia Private Investments Pty Ltd grew its position in shares of Martin Marietta Materials by 6.0% during the 4th quarter. Caledonia Private Investments Pty Ltd now owns 845,628 shares of the construction company’s stock valued at $186,918,000 after purchasing an additional 47,539 shares in the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of Martin Marietta Materials by 26.4% during the 4th quarter. William Blair Investment Management LLC now owns 753,144 shares of the construction company’s stock valued at $166,475,000 after purchasing an additional 157,388 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

In related news, Chairman C Howard Nye sold 8,409 shares of the company’s stock in a transaction on Wednesday, May 9th. The shares were sold at an average price of $212.66, for a total value of $1,788,257.94. Following the completion of the transaction, the chairman now directly owns 146,977 shares in the company, valued at $31,256,128.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Quillen sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $212.50, for a total transaction of $637,500.00. Following the completion of the transaction, the director now owns 20,283 shares of the company’s stock, valued at $4,310,137.50. The disclosure for this sale can be found here. Insiders sold 21,633 shares of company stock valued at $4,682,373 over the last quarter. 0.75% of the stock is owned by company insiders.

A number of research firms have recently commented on MLM. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $258.00 price target for the company in a research report on Thursday, June 14th. Barclays set a $232.00 price target on shares of Martin Marietta Materials and gave the company a “hold” rating in a research report on Thursday, May 31st. Citigroup set a $262.00 price target on shares of Martin Marietta Materials and gave the company a “buy” rating in a research report on Tuesday, May 15th. ValuEngine upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Finally, SunTrust Banks reduced their price target on shares of Martin Marietta Materials to $226.00 and set a “buy” rating for the company in a research report on Thursday, May 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $238.13.

Shares of Martin Marietta Materials opened at $223.33 on Friday, Marketbeat Ratings reports. Martin Marietta Materials, Inc. has a 52-week low of $189.26 and a 52-week high of $241.33. The firm has a market capitalization of $13.83 billion, a P/E ratio of 31.10, a P/E/G ratio of 1.66 and a beta of 1.17. The company has a quick ratio of 3.06, a current ratio of 4.00 and a debt-to-equity ratio of 0.58.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, May 8th. The construction company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.09). Martin Marietta Materials had a return on equity of 9.47% and a net margin of 17.36%. The company had revenue of $802.00 million during the quarter, compared to analysts’ expectations of $822.23 million. During the same quarter last year, the firm posted $0.67 earnings per share. The firm’s revenue was down 5.0% on a year-over-year basis. sell-side analysts predict that Martin Marietta Materials, Inc. will post 9.22 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Friday, June 1st were given a $0.44 dividend. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $1.76 annualized dividend and a yield of 0.79%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 24.51%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural-resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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